ArabFinance: General Company for Paper Industry (Rakta) (RAKT) incurred a net loss of EGP 87.269 million in the July-May period of the fiscal year (FY) 2020/2021, according to the company’s statement filed to the Egyptian Exchange.

Rakta anticipated incurring a net loss of EGP 62.992 million in the FY 2021/2022,

The listed company’s ordinary general assembly approved the estimated budget of FY 2021/2022, targeting net sales of EGP 2.8 million, compared to EGP 0.5 million in FY 2020/2021 and EGP 26 million in FY 2019/2020.

Rakta is an Egypt-based public shareholding company engaged in the production and distribution of printing and wrings papers, and multi-layered duplexes carton papers.